Recent Updates

• • World Bank Mission Visit to Somaliland

    April 1, 2019Uncategorized...
  • A five-day Training on International Public Sector Accounting Standards

    March 25, 2019HOMEThe PFM Coordination Unit organized a five-day training on International Public Sector Accounting Standards. The participants for this training were drawn from key relevant institutions including the Accountant General’s Office, the Office of the Auditor General and the Budget Department of the Ministry of Finance Development. The key objectives of the training were to familiarize participants with crucial elements of the “Standard” and their impact on the preparation of Financial Statements for the Government of Somaliland, and to ensure participants can distinguish between the mandatory and optional provisions of the “Standard” and finally to familiarize participants with the principles and practices of the International Public Sector Accounting Standards (PSAS) Cash Basis and to enable them apply in their respective roles within the GoSL. The training program is part of the GoSL’s attempt in addressing recommendations to ensure the Public Financial Management (PFM) practices of the Government of Somaliland conform with International Best Practices....
  • PFM Pillar 3 Technical Working Group Meeting

    March 16, 2019PILLAR 3 ACTIVITIES / Recent Updates  The PFM Pilar 3 Technical Working Group Meeting was held today at the office of the Accountant General, in Hargeisa. The meeting was chaired by the Accountant General of the State Mr Ahmed Duad and co-chaired by the Director General of the Ministry of Finance Development, Mr Mohamed Abdi Gurhan The PFM Pilar 3 Technical Working Group Meeting is a platform for stakeholders on planning and reviewing implementation progress against plans for Financial Management, Reporting and FMIS component of the PFM Program....
• • Continuing FMIS Training for Senior Civil Servants

    January 11, 2019PFM EDUCATION / PILLAR 3 ACTIVITIES / SLFMISThe PFM coordination Unit of the Ministry of Finance Development facilitates continuing training on FMIS for senior civil servants. The training has been on progress since the beginning of December 2018. The SLFMIS is designed to improve the transparency and effectiveness of the government’s financial transactions, which is a crucial component of the PFM reform program. The SLFMIS will track financial payments and summarize financial information for all government institutions. It is aligned to budget and finance laws as well as PFM regulations and international best practices. This will facilitate the sharing of real time financial information that will increase the efficiency of government operation by helping to improve the accuracy, speed and transparency of processes such as budget planning, budget execution, expenditure management, revenue management, payroll, contract and asset management....
  • Four-day Validation Workshop on the Translation of Key Financial Documents

    December 27, 2018PILLAR 4 ACTIVITIESAs part of the ongoing PFM reform developments in Somaliland, the PFM Coordination Unit of the Ministry of Finance Development has organized a four-day validation workshop on the Somali translation of key financial regulations/policies on December 22 – 25, 2018. The objective of the workshop was to validate the translations contained in the draft Somali version of the key financial documents in collaboration with major stockholders and to deliberate on feedback from group discussions through plenary sessions These documents were developed to strengthen the capacity of public institutions in Public Financial Management and to contribute towards enhancing prudent, accountable and transparent management of public resources. The participants for the workshop were knowledgeable civil servants from key Ministries, Departments and Agencies. These includes, Ministry of finance Budget department, Auditor General Office, Accountant General Office, The Central Bank and other public institutions The key discussion points of the workshop focused on ensuring the level of semantic accuracy of the vital terminologies used in the Somali translation to reconfirm error-free translation of the financial regulations/policies. The primary objective of these policy documents is to provide public institutions with detailed financial administrative policies and procedures in a style and level of detail that allow public financial institutions to understand and carry out their work in a way that complies with best practice in financial regulations and procedures. These policy documents address the general requirements and general policies as well as detailed procedures and activities that promote efficiency, transparency and accountability in the use and management of public funds The PFM is designed to improve government’s capacity and systems to utilize public funds, towards meeting the National Development Plan (NDPII) goals and those of Vision 2030....